Hong Kong MPF assets rise to USD171bn in Q1

Hong Kong’s Mandatory Provident Fund (MPF) assets rose nearly 4% to HKD1.34tr (USD171bn) in the first quarter of 2025, boosted by a 15% rebound in the Hang Seng Index. According to the MPF Schemes Authority, total assets are now 125% higher than a decade ago, though slightly below the 128% year-on-year growth recorded in December 2024. Equity and mixed asset funds, which comprise around 80% of MPF holdings, posted annualised net returns of 4.5% and 4.0% respectively. The number of scheme members remained steady at 4.79 million, while registered employers and employees declined by 3.3% and 0.3% respectively. The data reflects improving market sentiment amid Hong Kong’s stock market recovery but points to a softening labor base.